Aurionpro Solutions on Friday announced that they have completed acquisition of Mumbai-based Banking and Insurance focusedPaaS startup, Arya.ai. With Arya.ai, Aurionpro will significantly enhance its portfolio of enterprise fintech offerings to expeditethe adoption of AI that is responsible, accurate, and auditable, aligning strongly with the rapidly evolving demands of Banks and Insurers.
Under the terms of the agreement, Aurionpro Solutions Ltd. will acquire a majority stake (67%) in Arya.ai. This acquisition will bring products and expertise in Artificial Intelligence, Deep Learning, Intelligent Automation, PaaS, Autonomous AI Platforms, and tailored industry solutions, to complement and strengthen Aurionpro’s existing industry leading portfolio. Arya.ai Enterprise AI solutions are trusted by 100+ Banks and Insurers across Asia.
The transaction comprises acquisition of shares held by the existing shareholders and subscription of new equity capital in the company. This will be an all-cash deal. The aggregate investment including secondary acquisition and fund infusion is approximately 16.5 MN USD.
By integrating Arya.ai’s cutting-edge AI cloud platform, with Aurionpro’s comprehensive suite of offerings, the company intends to create an industry leading Enterprise AI platform sharply focused on creating value for financial institutions globally. Leveraging Arya.ai’s expertise in AI solutions and comprehensive governance tools will greatly accelerate Aurionpro’s vision of creating the next generation of highly differentiated software that leads the industry in helping financial Institutions realize true business value from Enterprise AI.
